Specifics of the real estate market of St. Petersburg

Twenty seven million two hundred nine thousand two hundred seventy two

Saint Petersburg the second largest city by population, the Northern capital with the number of people living more than 5 000 000. According to some estimates the number of living up to 6 000 000 people, density is one of the most high.

Attractive city for living in the Leningrad region come from other regions. This is due to the more loyal of the situation on the real estate market in comparison with the closest competitor — Moscow.

Erected numerous buildings belonging to the economy class, standard and even elite, so obviously the desire of many people to move to a permanent place of residence and from remote regions. This process is popular in St. Petersburg because today marked downward trend in mortgage rates. Mortgages are becoming more accessible to citizens, so increasingly they are choosing cities that are included in the five largest in the country.

Features of the real estate market of St. Petersburg
If to compare with Moscow, then in 2017 the growth of square meter of housing in the Northern capital was more obvious, whereas in many other major cities, including in Moscow, there has been stagnation and even slight decline. For example, during the first half of 2017, the average incidence of price per square meter in the secondary market of Moscow amounted to 3%, while in St. Petersburg the price of a meter increased by 4.6%. Some analysts attribute this to high expectations of sellers, the specifics of the price in other Metropolitan areas, seasonality. Features:
  • The cost of the "square" remains one of the highest, if not to compare with Moscow and other million-plus cities.
  • Many are showing interest in the objects in the new region. The middle suburbs within a radius of 30 km from Saint-Petersburg, highly relevant for buyers. The interest is much higher than the interest in the middle suburbs in other major cities.
  • Significantly reduced the relevance of the simplest of objects: rooms in communal apartments. Slightly decreased the cost and small studios, one-bedroom apartments. But "dvushki" and "treshki" weakening and even showing growth.
  • In the interest of users affected and infrastructure, tourism opportunities, prospects for building a career, study. Education in the Northern capital, valued, in the city there are more than a hundred higher educational institutions of all fields: medicine, engineering, information technology, education, telecommunications, agriculture, and dozens of others.

Market prospects
Expect further price declines per square meter is not necessary. If to speak about new buildings, it is obvious, the trend of buyers, average area of housing. For example, if 10 years ago, most actively realized apartments with an area of 60 square meters, today a growing interest in smaller objects: an area not exceeding 50 square meters.

In 2017 and 2018, have been actively implemented the options "buy and live", that is ready to move in good repair, although a few years ago this interest was not observed.


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